The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds.

DCEDNewsroomCOVID-19 Working Capital Access Program Provides Relief to Hundreds of Additional Businesses

COVID-19 Working Capital Access Program Provides Relief to Hundreds of Additional Businesses

May 4, 2020

$14 Million in New Funds Awarded to Businesses in 39 Counties

Harrisburg, PA – Today, on behalf of Governor Tom Wolf, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced that 173 companies in 39 counties have received $14 million in funding during the third round of the COVID-19 Working Capital Access Program (CWCA). The latest round of funding supports restaurants, wellness centers, wineries and breweries, consulting firms, salons and spas, and more. To date, more than $37 million was awarded to a number of diverse businesses.

“As we look forward to the reopening of our economy, we are thrilled to distribute additional CWCA loans to over 150 companies, including several that fall within counties which will be entering the yellow phase of mitigation efforts within the next week,” said Sec. Davin. “The Wolf Administration remains committed to supporting the state’s small businesses as we navigate COVID-19 together.”

On March 25, 2020, Governor Wolf announced that the Commonwealth Financing Authority (CFA) authorized the transfer of $40 million to the Small Business First Fund for CWCA. PIDA authorized making $61 million available to provide loans of $100,000 or less to for-profit businesses with 100 or fewer full-time employees.

PIDA staff continue to review submitted applications for approval and are actively working with DCED’s Certified Economic Development Organizations (CEDOs) to disburse CWCA loan funds at the time of approval. Information on future awardees will be released as it becomes available.

DCED continues to update its website with financial and other resources.